Dismal raisings week ends with a whimper

Equity capital markets bankers will be hoping for a change of fortunes after a dismal week for raisings. Junior explorers Northern Mining and Torrens Energy were among the companies to announce raisings on Friday.

■
Northern Mining
placed 12.2 million shares at 3.8¢ each to raise $463,340. It placed an additional 7.55 million shares to raise another $286,900.

■
Torrens Energy
announced a one-for-three non-renounceable rights issue to raise $954,943. Shares were to be offered at 4.5¢ each. The offer was underwritten by Cygnet Capital, while three directors were nominated as partial sub-underwriters.

■
Empire Oil & Gas
allotted 195 million shares which were part of a $5 million placement at 2.5c a share.

■
KUTh Energy
released the offer documents for its $1.9 million rights issue underwritten by Veritas Securities.